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Tesla is seeing a 4th straight day of losses after hitting an all-time high on Monday

Electric
carmaker, Tesla is set to close lower for a fourth-straight session on Friday.
Shares are down 3.17% as of 1:57 p.m. ET, and have been falling since hitting
an all-time high of $389.61 on Monday, Owojela’s Blog learnt.

The day
after its record high, Jefferies initiated coverage of the company with an
underperform. Analyst Philippe Honchos said Tesla's progress is impressive thus
far, but that he doesn't expect it to scale as well as other analysts are
hoping for. Honchos set a price target of $280.

Honchos also
pointed out that the company's attempts to vertically integrate are not panning
out as well as it had hoped. Two days after Honchos published his note, a CNBC
report said that Tesla is partnering with AMD to develop a new autonomous
driving chip unique to Tesla. Details about the chip are still unknown, but it
could help Tesla to loosen its reliance on Nvidia for specialized self-driving
processing chips.

A source said Tesla's
story is little changed since announcing the Model 3. The company hopes to be
making 20,000 vehicles by the end of the year as it works through its backlog
of about 450,000 preorders.

The next big
announcement from Tesla is expected to come later this year, when the company
unveils its new semi-truck. The truck is expected to have a range of 200 to 300
miles on a single charge and cost around $100,000, though details are sparse
ahead of the announcement.

The federal
government through the Federal Airports Authority of Nigeria (FAAN) has apologised
to Air Peace Airlines and its passengers after a herd of cattle strayed onto
the runway of Akure Airport in Ondo state.

Nigerian
football star Victor Moses scored on his 209th Premier League appearance as
Chelsea put behind them their recent struggles by thrashing West Bromwich
Albion 3-0 at the Stamford Bridge on Monday.

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The Special
Assistant to President Muhammadu Buhari on Social Media, Lauretta Onochie has
responded to the claims that the Tsaigumi commissioned in Kaduna during the
week, was first launched by ex-president Goodluck Jonathan in 2013.